• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • RCR Wireless News
  • Enterprise IoT
  • Editorial Calendar
  • Advertise
  • Webinars
  • Reports
  • White Papers
  • Subscribe

In-Building Tech

Connecting CRE building technology buyers with CRE tech sellers

720×90

  • Industry
    • Office & Commercial
    • Data Center, Network Hotels
    • Government
    • Healthcare
    • Higher Ed
    • Hospitality
    • K-12
    • Laboratory & Scientific
    • Manufacturing
    • Multi-Family
    • Transportation: Airports, Rail, Ports
    • Smart City
    • Stadiums, Arenas, Venues
  • Tech
    • Drones
    • AI-Machine-Learning
    • Wi-Fi
    • Augmented Reality
    • IoT (platform, gateway)
    • Networks
    • 5G Resources
    • Microcontrollers
    • Microprocessors
    • Data Analytics
    • Wired Networks, Fiber
    • Wireless (Cell, DAS, BDA, Repeaters, Boosters)
    • Positioning, GPS, Navigation
    • Security
    • Sensors
  • Systems
    • Energy
    • Lighting
    • HVAC
    • Security
  • Functions
    • Automation
    • Building Management
    • Construction
    • Asset Management (EAM)
    • Materials
    • Maintenace (MRO)
  • Smart Buildings
  • News & Event Coverage
  • In-Building Wireless
  • About In-Building Tech
  • Qualcomm 5G Insights
You are here: Home / Office & Commercial / 18-hour cities emerge as top areas for commercial real estate development

18-hour cities emerge as top areas for commercial real estate development

January 15, 2019 by Urvashi Verma

  •  
  •  
  •  
  •  
  •  
18 hour city Dallas Fort Worth

Second-tier cities with higher-than-average urban population growth are becoming fertile and viable areas for future commercial real estate investment.

Often seen as an alternative to investment in the “big six” real estate markets–Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C. — most of which are often dubbed 24-hour cities, 18-hour cities are being propelled by faster than average growth.

According to a recent report by PwC and the Urban Land Institute, nine of the top 10 markets and 17 of the top 20 markets with strong projected employment growth and stability fell into the category of 18-hour cities.  

Cities like Nashville, Orlando, Austin, Fort Lauderdale, Dallas/Fort Worth and others are surprisingly more stable due to population and employment growth.

18-hour cities
Courtesy of PwC & Urban Land Institute Projected Employment Growth and Stability for Top Markets in 2019

The projected average annual population growth over the next five years in these markets is 1.3%  compared with 0.7% for the United States as a whole, and five-year annual employment growth is expected to reach 1.2% compared with 0.6% for the United States.

18-hour cities were also seen as faster growth markets due to lowers costs of living and setting up businesses compared with larger markets.

The influx of more than 1,800 companies which left California to move to the Southwest, specifically Austin and Dallas/ Fort Worth are evidence of the dramatic shift.

Portfolio managers believe there is some room to go in this cycle, especially in a potential downturn, where faster-growth markets are seen as areas where investors prefer to be.

18-hour cities are doorways to suburban sub-markets 

18-hour cities are becoming more diversified by industry which is increasing investor confidence that these markets will remain protected from isolated events capable of disrupting their local economies.

The report found that the increased comfort level is driving more investors to look to non-gateway markets.

One of the landmark features of 18-hours cities is that they generally offer developed desirable urban neighborhoods and attractive suburban sub-markets which are likely to grow in the near future.

The survey found that 18-hour markets saw an average of 55% of their new residents relocate in the suburbs over the last five years.

These markets are especially attractive for retail development and office markets, as retail follows rooftops and development grows to meet the new resident requirements and residents prefer working closer to where they live.

Related

Filed Under: Office & Commercial

Primary Sidebar

Sponsors

Search

300×350

300×100

CommScope forsees CBRS taking shape

Categories

Top Posts & Pages

  • Nokia deploys 5G at Optus Stadium in Australia
    Nokia deploys 5G at Optus Stadium in Australia
  • Honeywell survey reveals 68% of workers do not feel completely safe in their buildings
    Honeywell survey reveals 68% of workers do not feel completely safe in their buildings
  • Global access control product market to reach $10.2b by 2025: Memoori
    Global access control product market to reach $10.2b by 2025: Memoori

RSS Enterprise IoT Insights

  • Itron signs smart metering deals with Versant Power and Pacific Northern Gas
  • IIC joins with Smart Manufacturing Institute to refine core rules of industrial IoT
  • WND on 2021: Wider adoption, faster returns – so how do you make IoT pay?

Recent Posts

  • Global access control product market to reach $10.2b by 2025: Memoori
  • Nokia deploys 5G at Optus Stadium in Australia
  • Nordic PropTech firm Nuuka joins RealEstateCore Consortium

Archives

Tweets by InBuildingTech
  • RCR Wireless News
  • Enterprise IoT
  • Editorial Calendar
  • Advertise
  • Webinars
  • Reports
  • White Papers
  • Subscribe

Copyright © 2021 • Arden Media Company, LLC

This site uses cookies to improve and personalize your experience and to display advertisements. This site may also include cookies from third parties. By using this site you consent to the use of cookies.AcceptPrivacy Policy